What is the price and who pays the tax

Assignment Help Microeconomics
Reference no: EM132114498

Question: The table in the next column sets out the demand and supply schedules for chocolate brownies

951_Brownie.png

a. If sellers are taxed 20¢ a brownie, what is the price and who pays the tax?

b. If buyers are taxed 20¢ a brownie, what is the price and who pays the tax?

Reference no: EM132114498

Questions Cloud

Review the revenue and expense items : The ultimate result will be a set of pro forma financial statements including an Income Statement, Balance Sheet, and Cash Flow Statement.
Assume that when jen tries to enforce the contract : Change the facts slightly: Now let's assume that when Jen tries to enforce the contract, 16 year-old Johnny disaffirms on the grounds of lack of capacity.
How many hours are unemployed : How many hours are unemployed? If the demand for teenage labour increases by 500 hours a month, what is the wage rate and how many hours are unemployed?
Explain how this leader has influenced you : If you could recommend changes to his/her leadership approach, philosophy, and style, what would you suggest? Why?
What is the price and who pays the tax : The table in the next column sets out the demand and supply schedules for chocolate brownies. If sellers are taxed 20¢ a brownie, what is the price.
Investigate what your current performance review process : For this week's discussion, investigate what your current performance review process is at your current company
Identify all of the affected stakeholders and their values : Identify all of the affected Stakeholders and their values: Who are the individuals or programs affected by the ethical question?
Calculate the market price and the quantity bought : Calculate the market price and the quantity bought if a penalty of $20 a unit is imposed on: Sellers only or buyers only.
Support for the bookstore head or academic departments : Write a detailed memo stating either your support for the bookstore head or the academic departments.

Reviews

Write a Review

Microeconomics Questions & Answers

  Do you think divided government is preferable

Do you think divided government is preferable to unified party control? My state is South Carolina. Why or why not?

  Individuals expect future government spending to increase

Assume individuals consider only the short-run effects of changes in future macro variables when forming expectations of future output and future interest rates. Suppose individuals expect future government spending to increase.

  1 an asset is to be used in a project that will last 5

1 an asset is to be used in a project that will last 5 years. the macrs property class for this asset is 3 years. if b

  What international organization is largely responsible

What international organization is largely responsible for the amount of crude oil supplied in the global market?

  How might you have done the appraisal differently

How might you have done the appraisal differently if you could? Did evaluation help you to improve your performance, hinder your performance, or have no effect?

  Comparative cost under conditions of constant costs

Under what conditions will a country experience constant or increasing cost? Why is that the pre-trade production points have a bearing on a comparative cost under conditions of constant costs?

  Who will have the more elastic demand for yogurt

Sue loves ice cream but cannot stand frozen-yogurt desserts. In contrast, Carole likes both foods and can hardly tell the difference between the two. Who will have the more elastic demand for yogurt?

  Explain the three principal methods of financing

What is the price elasticity of demand? How is the price elasticity of demand calculated and describe and explain the three principal methods of financing that are used by corporations.

  Monopolist is at the profit-maximizing output level

Suppose a monopolist is at the profit-maximizing output level. If the monopolist sells another unit of output:

  Write a paragraph about gasoline storage

Understanding Cause and Effect Assume that there is a gasoline shortage and your state has imposed rationing. Write a paragraph about how this might affect you.

  Evaluate and compare the vertical restraints

Why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises that operate from commercial buildings?

  Determine the decreases in variable cost necessary to meet

Hambry's president has a goal of $1 million profit next year at each plant with no revenue or fixed cost increases. Determine the decreases (dollar amounts and percentages) in variable cost necessary to meet this goal if the number of units sold i..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd